Australian Retail Market Overview Q3 2023
Q3 2023 statistics on the national Australia Retail markets
- Andrew Ballantyne
- Andrew Quillfeldt
Consumer spending has surprised on the upside despite the RBA’s sharp increase of the cash rate target since May 2022. Although Australia’s year-on-year retail trade growth continues along a well-flagged decrease, consumers are still spending over AUD 35 billion per month on retail compared with AUD 28 billion per month before the pandemic, a 28% increase.